Public Storage, based in California, is a REIT that operates self-storage facilities. The company has about 3,400 self-storage facilities including locations in 43 states. Public Storage also has a 35% equity stake in Shurgard Europe, with about 280 facilities and 17 million square feet of rentable space in Western Europe. At year-end 2024, stabilized, same store properties account for almost three-fourths of the company's portfolio. Of the REIT's stabilized portfolio, approximately one-third of same-store assets were in California, Texas, and Florida, with 9% in the Los Angeles area. Last year, total revenues reached almost $4.7 billion with about 5% earned from non-storage, ancillary operations including reinsurance revenues and storage merchandise. Of storage rental revenue, 84% was from same store facilities and almost 6% was from acquired facilities. The shares are a component of the S&P 500. PSA's market cap is $53 billion.

Stocks are higher at midday on Friday, with the major indices uniformly in the green. The current mood likely is based in part on a 'buy the dip' response after Thursday's major decline. As well, the latest inflation data showed a decline in prices as the headline PCE data came in at 2.5% on an annual basis for January, in line with forecasts and lower than the prior month's 2.6%. On the flipside, U.S. consumer spending unexpectedly fell in January -- dropping 0.2% after an upwardly revised 0.8% increase in December. The one-year inflation expectations from consumers soared in February.

Public Storage is the largest owner of self-storage facilities in the US, with more than 3,300 self-storage facilities in 40 states and approximately 245 million square feet of rentable space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Self Storage. The company also has a merchandise business, a third-party property management business, and an insurance business that offers products to cover losses for the goods in self-storage facilities.

Public Storage is the largest owner of self-storage facilities in the US with more than 3,000 self-storage facilities in 40 states and approximately 219 million square feet of rentable space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Self Storage. The company also has a merchandise business, a third-party property management business, and an insurance business that offers products to cover losses for the goods in self-storage facilities.